There are many steps in the home selling process. It begins by hiring the right real estate agent. Together you will set the asking price. Next comes preparing the home for sale and then marketing it.
When all those parts come together along with the right market conditions, you should find a qualified and interested buyer. She makes an offer and following negotiations, you settle on a price and conditions of the sale.
But sometimes things don't go so smoothly. Deals fall t hrough for many reasons. Sometimes the buyer cannot secure the necessary funding. Sometimes they get cold feet. Sometimes the home inspection reveals too many problems. What is paramount is how you and your agent handle the turn of events.
Start by contacting other parties who have shown interest in the house. If you were fortunate enough to have two buyers bidding against each other, contact the other party immediately and let them know the property is still available.
If they decline, your REALTOR® should have a file of people who visited about those who seemed especially interested. Reach out to those buyers or their representatives next.
Finally, use your REALTOR®'s professional network to spread the word that the home is still available. He should reach out and let his contacts know that your property is back on the market and likely sell quickly.
When a deal falls through it can definitely take the wind out of your seller's sails. It is only natural to feel a little let down, especially when you thought you had the sale locked up. But the key to moving on is to regroup with your agent, target previously interested parties and get the word out that you are still looking for a buyer.